Singapore stocks may rise early trade on Wednesday in line with gains in US stocks, but is expected to hold a tight band as investors await the result of the US presidential election.
The ST index fell 12.36 points to 3,019.33 on a volume of 1.33 billion shares. By the close of dealings, there were 186 gainers against 218 losers.Here are some stocks and factors to watch:
SATS said its second quarter net profit rose 25% to $50.3 million from a year ago, helped by higher sales in its food business.
Yangzijiang Shipbuilding said its net profit in the third quarter fell 14% to 877.2 million yuan ($171.7 million) from a year ago, hurt partly by lower profit margins and lower vessel delivery. With a bleak outlook for the shipbuilding industry, the company said it was diversifying into ship demolishing and steel fabrication.
Ascendas Hospitality Trust, which listed in July and owns hotels in Australia China and Japan, said its second quarter distributable income was $8.7 million , 2.5% higher than its forecast.
Heineken said its acquisition of Fraser and Neave's interests in Asia Pacific Breweries has been approved by the Competition Commission of Singapore.
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